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Products Rising in Price

In October the inflation level rose by 0.8% month on month, while annual inflation rate marked 6.4%.

According to Geostat, national statistics service of Georgia, the inflation indicator was shaped by changed prices in the following product groups: food products and soft drinks: the group prices rose by 1.6% and this change was reflected in total inflation indicator by 0.46%.

Prices rose in subgroups: vegetables (+11.5%), milk, cheese and eggs (+3.2%) and oil and fat (+1.1%).

At the same time, prices decreased on fruits and grapes (-3%). In the group of clothes and shoes prices rose by 6.5%. Consequently, the group’s contribution to total inflation indicator made up 0.19%. Prices rose on shoes by 12% and clothes by 3.65%.

The annual inflation was mainly influenced by changed prices in the following groups: food products and soft drinks: prices rose by 4.7% with 2.21% contribution to total index growth.

Prices rose in the following subgroups: vegetables (+28.4%), fruits and grapes (+13.7%), milk, cheese and eggs (+11.7%), meat and meat products (+9.1%), table oil and fat (+7.6%).

Transport sector: prices rose by 14.7% with a 1.83% contribution to the inflation index. Prices increased in the sector of service of private transport (+19.4%), purchase of transport (+12.7%) and vehicles services (+5.1%);

Strong drinks, tobacco: prices rose by 17.6% with a 1.13% contribution to the inflation index upturn. The group recorded a rise in prices on tobacco products (+37.8%), strong drinks (+1.2%).

Healthcare: prices rose by 5.8% with a 0.5% contribution to the total index growth. The group recorded a rise in prices on medical products, appliances and equipment (+10.7%) and outpatient medical services (+6.2%).